TJX and Ross both reported April sales results that exceeded expectations. Same store sales for the four-week period ended May 4, increased 8% for TJX, while Ross saw a same-store sales increase of 7% for the same period. TJX reported total sales of $2...
New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts. Target reported weaker-than-expected same-store sales growth, as June same-store sales rose 2.1% and missed the expected 2.4% rise.
New York -- With only a few exceptions, retailers are posting solid gains in May, with such chains as Target, TJX, Ross and TJX Cos. beating Wall Street forecasts for the month. The Thomson Reuters Same-Store Index, which tracks the stores that release monthly sales reports, is expected to rise 3.6% in May. "Analysts are taking a careful approach to May same-store sales given the cautious tone issued by most retailers on second-quarter earnings guidance," said Ken Perkins of Retail Metrics, in a research report. Despite the caution, analysts are spotlighting some unexpected stars in the specialty store arena.
New York -- Target and TJX Cos. both reported better-than-expected results in May, with a 4.4% and an 8% increase in same-store sales, respectively. Wall Street expected Target same-store sales to be up 3.5% in May and forecasted TJX sales to rise 5.3%. TJX's strong performance in May even prompted the company to raise its forecast to the high end of its previous earnings estimate. And Target saw strength from such categories as food, clothing and health supplies, which helped push results to high end of the retailer’s expected range. “We’re confident that Target is well-positioned to continue delivering
/CNW/ - Sears Canada Inc. Sears Canada also announced today the resignation from the Board of Deidra Merriwether, Senior Vice President and President - Retail Services of Sears Holdings Corporation. "The Board of Directors of Sears Canada is pleased to have attracted Mr. Ross to our Board," said William C. Crowley, Chairman of the Board, Sears Canada Inc.Â "Mr. Ross brings extensive experience in both domestic and cross-border commercial matters as well as in corporate governance, and the Board welcomes such an esteemed lawyer, educator and author." "The Board would like to express its gratitude to Deidra Merriwether, who
PLEASANTON, Calif. — Ross Stores will celebrate on July 16 the opening of its 1,000th Dress for Less store in North Pleasant Hill, Calif. Ross Stores' announcement of its 1,000th Dress for Less store follows strong monthly and quarterly sales and earnings, as the company continues to thrive in the down economy. For the four weeks ended May 28, the company's total sales increased 8% to $661 million, and comparable-store sales for the month grew 4%. During the company's first quarter, net earnings were up 22% to $173 million, sales increased 7% to $2.1 billion, and comparable-store sales were